Medical Insurance Documents

2018 Medical Insurance

Dear Member,

Thank you for your active participation in IEEE member group medical insurance program that is now entering its 3rd year of coverage. Having had a good start in 2016 and 2017 we look forward to increased participation in 2018.

IEEE members in India who wish to subscribe to affordable medical insurance for themselves and their family may now enroll (fresh or renew) in the new Group Insurance plan supported by IEEE.

In order to qualify to participate in the plan, the IEEE membership should be active and in good standing at the time of enrollment. Ongoing IEEE membership will be required in order to renew the insurance every year, i.e. 2018 renewal must be completed for enrollment or renewal.

Please note that there are changes in the rates, payment mode and certain terms & conditions based on the past performance of this program. It was seen that the claims were 14 5% of the premium collected as of Jan 2018. In the previous year, the claims were xx %. The analysis of claim details revealed that parental claims, as well as Pre-Existing Diseases (PED) claims, were the main reasons for high payouts. Hence, to be fair to all participating in the program, it was mutually agreed to change the policy structure and the premiums based on age and relationship. These changes have been brought in after multiple deliberations between GIEEE India Office Staff, volunteer leaders (from IEEE India Council and several sections) and NICL. However, every effort was made to keep the plan attractive when compared with other schemes.

The new premium structure and prices for 2018 are mentioned below. It is expected that the program will mature over time, based on the number of enrollments as well as claim patterns, to provide us better premium as compared with standalone policies. We request your continued support.

Premium Table for policy from 01-Apr-2018 to 31-Mar-2019

BASIC PREMIUM WITH OUT GST (in INR)

Members

2,00,000

3,00,000

5,00,000

7,00,000

10,00,000

Self /parents per life – Age up to 60

2,500

3,500

5,500

7,000

9,000

Self /parents per life – Age 60-70

4,000

5,500

7,500

9,000

11,500

Self/parents per life – Age above 70

6,000

7,500

10,000

12,500

14,000

Dependent Spouse – Age up to 60

1,500

2,750

3,750

4,500

6,250

Dependent spouse – Age 60 -70

3,000

4,500

6,000

7,500

9,000

Dependent Spouse – Age above 70

6,000

7,500

9,000

11,000

13,000

Children up to age 25

1,000

1,500

2,000

2,500

3,000

Special Terms

18% GST on the premium is extra

Add 100.00 per IEEE member towards the bank charges to IEEE member premium only (not to other family members’ premium) – New Addition

Parental Co-Pay 20% is applicable to all claims – Increased from 10% to 20%

Parental claims are allowed up to 50% of sum insured (sum of all claims during the policy period) – Applicable to all slabs aginst earlier minimum of 2lakhs

PED exclusion is provided when such members renew their policy at least once, without any gap. i.e. PED exemption is available for continuous renewals only.

No mid-term admissions are allowed after 01.05.2018. Exceptions are marriage and childbirth during the policy period.

The new/renewed policy will start from 01-Apr-2018 for members enrolled by EoD 30-Mar-2018 and the new policy will start from 01-May-2018 for members enrolled between 31-Mar-2018 and EoD 29-Apr-2018. Note that renewing members need to do so by EoD 30-Mar-2018, else it will be considered a new (fresh) policy if paid for by EoD 30-Apr-2018. Besides, PED exemption will not be available